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Kyobo Securities CEO Park Bong-kwon (photo = Kyobo Securities) |
[Alpha Biz= Reporter Kim Sangjin] On November 20, Kyobo Securities CEO Park Bong-kwon addressed recent concerns regarding the company's plans to reduce the number of branches, stating, “Branch consolidation was communicated unilaterally by the WM (Wealth Management) division head.”
In a statement relayed by the company’s labor union, Park assured, “We will discuss strategies to revitalize the retail business without consolidating branches.” This announcement came during a sit-in protest organized by the Kyobo Securities labor union on the 15th floor of the Yeouido building, where Park’s office is located. With this clarification, Park effectively ruled out any workforce restructuring plans.
Kyobo Securities has been embroiled in controversy over potential branch closures. Since November 18, tensions between management and the labor union have escalated, with the union alleging that management’s review of reducing the current 25 branches to 18 is a precursor to workforce downsizing. However, management has defended the move as part of a strategy to optimize operations.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
